Spectris announces an interim dividend of 24.1p per share, which will be payable on 11 November 2022 to ordinary shareholders on the register at the close of business on 7 October 2022.
Other Financial Highlights:
• Continuing strong demand and growth, delivering good financial performance
- 20% like-for-like ('LFL') order growth; record order book provides strong visibility into H2
- 11% LFL sales growth driven by market share gains; statutory reported sales up 6%
- Adjusted operating margin maintained at 12.7%; statutory operating margin 9.5%
- Increased investment in R&D, up from 7.6% to 8.3% of sales
- Confidence in high single digit organic sales growth and margin expansion for the full year
• Further simplification of the Group
- Sale of Omega completed, £410 million headline proceeds in July, delivering significant shareholder value and further improving the quality of the Group.
- Increasing investment for growth; 17% increase in R&D spending; higher capex for facility expansion at PMS; higher working capital to support order book execution
• Strong balance sheet and capital allocation policy in action
- £150 million of share buyback programme completed; remaining £150 million re-starting
- Dividend per share increase of 5%
- Acquisitions announced across all divisions, with capacity for further value-enhancing M&A
• Sustainability at the core of Spectris's strategy
- Joined the UN Global Compact
- Well positioned in end markets, with strong fundamentals, supported by key sustainability themes
